Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
CBDT exercised authority under Sec 138(1)(a) of Income Tax Act to designate DGIT (Systems) as specified authority for sharing taxpayer information with DFPD to identify PMGKAY beneficiaries. The information sharing mechanism requires DFPD to provide Aadhaar/PAN details, whereupon DGIT Systems will respond with Yes/No/Not Available flags regarding income thresholds. For Aadhaar numbers not linked to PAN, unavailability will be indicated. The process necessitates an MoU between DGIT Systems and DFPD covering data transfer protocols, confidentiality measures, and preservation standards. The MoU must establish timelines and operational procedures while ensuring data security and appropriate disposal after use.
CBDT exercised authority under Sec 138(1)(a) of Income Tax Act to designate DGIT (Systems) as specified authority for sharing taxpayer information with DFPD to identify PMGKAY beneficiaries. The information sharing mechanism requires DFPD to provide Aadhaar/PAN details, whereupon DGIT Systems will respond with Yes/No/Not Available flags regarding income thresholds. For Aadhaar numbers not linked to PAN, unavailability will be indicated. The process necessitates an MoU between DGIT Systems and DFPD covering data transfer protocols, confidentiality measures, and preservation standards. The MoU must establish timelines and operational procedures while ensuring data security and appropriate disposal after use.
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